­­­­­­­­­­­Bloomberg Swiss engineering company ABB Ltd. agreed to buy General Electric Co.’s industrial solutions business for $2.6 billion to strengthen its foothold in the US, the world’s biggest market for electrification products like circuit breakers and switchgears. ABB will incur costs of $400 million over five years to integrate GE’s industrial solutions unit, Chief Executive Officer Ulrich Spiesshofer told journalists …

Bloomberg Silicon Valley spent more than a decade finding ways to give company founders more control. When Facebook Inc. tried to follow suit, shareholders pushed back. Google started it with a 2004 initial public offering that gave co-founders Larry Page and Sergey Brin voting rights well beyond their economic stakes in the search giant. Groupon Inc., Zynga Inc. and Facebook …

Bloomberg As new Nestle SA Chief Executive Officer Mark Schneider prepares to lay out his strategic vision for the Swiss food giant, his plans will be overshadowed by a changing of the guard at another European consumer-goods giant—L’Oreal SA of France. Nestle owns 23 percent of the French cosmetics maker, and the death of heiress Liliane Bettencourt raises questions about …